GBP/USD Clinches Highs Near 1.4550
The Sterling keeps its buoyant tone at the beginning of the week, now lifting GBP/USD to test fresh daily highs near 1.4550.
GBP/USD stronger on EUR/GBP selling
Spot gained further traction following a pick up in the selling interest around EUR/GBP, as sellers keep their pressure on the single currency following mixed results from advanced PMIs in the euro area for the current month.
Later in the week, UK’s Public Sector finances are due (Tuesday) followed by preliminary results of Q1 GDP (Thursday) and Consumer Sentiment tracked by Gfk (Friday).
Further news regarding the UK Referendum by YouGov saw the ‘Stay’ vote leading with 44% and the ‘Leave’ vote with 40%.
GBP/USD levels to consider
As of writing the pair is advancing 0.14% at 1.4535 facing the immediate hurdle at 1.4666 (high May 19) ahead of 1.4770 (high May 3) and then 1.4815 (2016 high Jan.4). On the other hand, a breakdown of 1.4361 (20-day sma) would aim for 1.4337 (100-day sma) and finally 1.4330 (low May 16).